Pac Rim Holding’s Profit Increases in 2nd Quarter

Pac Rim Holding Corp., an Encino-based workers’ compensation insurer, said its second-quarter profit surged 72% from a year earlier on a 41% gain in revenue.

In the quarter ended June 30, Pac Rim’s net income rose to $1.84 million from $1.07 million a year earlier, and its revenue climbed to $24.2 million from $17.2 million.

The company, whose main unit is Pacific Rim Assurance Co., said the gains reflected its strategy of providing insurance mainly to service-related businesses, which enables it “to avoid the highly sensitive and high-risk type of business that has been adversely effected by the economic downturn.”

For the first half of 1991, Pac Rim’s profit jumped 65%, to $3.27 million from $1.98 million, and its six-month revenue rose 47%, to $46.6 million from $31.7 million.